Presidential Estates

May 14, 2025 Quincy, MA

Brady Capital Advisors, LLC (BCA) announced today that it has arranged and facilitated $55,750,000 in first mortgage financing for the acquisition and renovation of Presidential Estates, a 276-unit garden-style apartment community in Quincy, MA, for a closing that took place on March 26, 2025.

BCA secured financing for SFMG, a prominent investment and development firm overseeing approximately 2,000 apartment units throughout New England. The property encompasses 12.48 acres across two tax parcels, featuring 13 three-story residential buildings complemented by a clubhouse, maintenance facility, and storage warehouse. The sponsors will be implementing a comprehensive $7,000,000 renovation strategy, delivering premium unit upgrades including new flooring, kitchens, granite countertops, stainless steel appliances, modernized bathrooms, as well as new HVAC systems, electrical upgrades, plumbing upgrades and in unit washer/dryer. Property-wide enhancements include window and sliding door replacements, clubhouse renovations, and amenity upgrades across the development.

BCA launched the deal in early January, garnering interest from over 100 different lenders in the market including local, regional and national banks, credit unions, debt funds, life insurance companies, CMBS and agency lenders. Patrick Brady, president of BCA shared, “While there were a number of competitive quotes and structures, ultimately the Sponsors elected to move forward with a community bank offering 68% LTC, a competitive 5 year fixed rate financing structure with 3 years of interest only followed by 30-year amortization, and flexible prepayment. BCA also helped source one of the two participating banks and spearheaded an efficient borrowing process across three different lending institutions that closed within 60 days of term sheet signing.”

The transaction closed on March 26, 2025, and marked the largest financing arrangement in BCA’s history.

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What our clients say about BCA

We’ve used mortgage brokers in the past, but the relationship always seemed transactional to us. BCA goes above and beyond, provides exceptional service, and stays plugged into our deal flow providing us real time feedback on our potential acquisitions and developments in pipeline, whether or not those deals come to fruition. They are a great resource and partner to have in the marketplace.

The BCA team is a well-oiled machine, and they make the commercial borrowing process truly hands-free. They manage my expectations properly along the way on timeline and what terms to expect. They also handle post-closing requests on my behalf, and work closely with my accounting and legal teams on reporting requirements for a number of loans with different lenders. They are always adding value!

Historically, we handled financing on our own. As our company and portfolio grew, we knew our time was better spent chasing acquisitions and developing relationships with investors than spending time negotiating with banks. Having BCA on our team and knowing that they’re going to clear the market allows us to stay focused on maximizing profitability for our LPs.

As a loan officer at a community bank, there is a wide gap between what a commercial borrower anticipates the lending process to be, and how our credit policy needs it to be. BCA helps bridge that gap, and facilitates a smooth underwriting and closing process. I might not win every deal I bid, but they’re honest, professional, and mindful of my time. I look forward to many more successful closings together!

Presidential Estates

Testimonials

What our clients say about BCA

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